The AIF industry is quite significant and permitting a system that allows conflicted manager to influence deals for their own profit is detrimental. SEBI can easily avoid this by applying the existing rules which govern REITs and InvITs to AIFs alongside the other reforms proposed in this blog.

Until Parliament and Insolvency and Bankruptcy Board of India catch up, TSP resolutions, as well as those of other natural resources, will sit in the gap that the Supreme Court has just defined.

The Mafatlal principles were articulated generally in respect of refund claims, not merely those arising under the Central Excise Act.